Economy - overview:
The Bahamas has the second highest per capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and financial services. Tourism accounts for approximately 50% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors. The new government led by Prime Minister Hubert MINNIS has prioritized addressing fiscal imbalances and rising debt, which stood at 75% of GDP in 2016. Large capital projects like the Baha Mar Casino and Hotel are driving growth. Public debt increased in 2017 in large part due to hurricane reconstruction and relief financing. The primary fiscal balance was a deficit of 0.4% of GDP in 2016. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - partners: Exports - commodities: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
$12.06 billion
(2017 est.)
$11.89 billion
(2016 est.)
$12.09 billion
(2015 est.)
note: data are in 2017 dollars
country comparison to the world:
156
[see also: GDP country ranks ]
$12.16 billion
(2017 est.)
[see also: GDP (official exchange rate) country ranks ]
1.4%
(2017 est.)
-1.7%
(2016 est.)
1%
(2015 est.)
country comparison to the world:
175
[see also: GDP - real growth rate country ranks ]
$32,400
(2017 est.)
$32,300
(2016 est.)
$33,200
(2015 est.)
note: data are in 2017 dollars
country comparison to the world:
62
[see also: GDP - per capita country ranks ]
11.4% of GDP
(2017 est.)
18.2% of GDP
(2016 est.)
12.3% of GDP
(2015 est.)
country comparison to the world:
155
[see also: Gross national saving country ranks ]
household consumption: 68%
(2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 13%
(2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26.3%
(2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.7%
(2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 33.7%
(2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -41.8%
(2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 2.3%
(2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 7.7%
(2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 90%
(2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
citrus, vegetables; poultry; seafood
tourism, banking, oil bunkering, maritime industries, transshipment and logistics, salt, aragonite, pharmaceuticals
5.8%
(2017 est.)
country comparison to the world:
44
[see also: Industrial production growth rate country ranks ]
196,900
(2013 est.)
country comparison to the world:
173
[see also: Labor force country ranks ]
agriculture: 3%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 11%
[see also: Labor force - by occupation - industry country ranks ]
services: 49%
[see also: Labor force - by occupation - services country ranks ]
tourism: 37%
(2011 est.)
10.1%
(2017 est.)
12.2%
(2016 est.)
country comparison to the world:
140
[see also: Unemployment rate country ranks ]
9.3%
(2010 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 22%
(2007 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: 2.139 billion
(2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 2.46 billion
(2017 est.)
[see also: Budget - expenditures country ranks ]
17.6% (of GDP)
(2017 est.)
country comparison to the world:
166
[see also: Taxes and other revenues country ranks ]
-2.6% (of GDP)
(2017 est.)
country comparison to the world:
115
[see also: Budget surplus (+) or deficit (-) country ranks ]
54.6% of GDP
(2017 est.)
50.5% of GDP
(2016 est.)
country comparison to the world:
80
[see also: Public debt country ranks ]
1 July - 30 June
1.4%
(2017 est.)
-0.3%
(2016 est.)
country comparison to the world:
75
[see also: Inflation rate (consumer prices) country ranks ]
4.5%
(1 January 2014)
4.5%
(31 December 2012)
country comparison to the world:
85
[see also: Central bank discount rate country ranks ]
4.25%
(31 December 2017 est.)
4.75%
(31 December 2016 est.)
country comparison to the world:
161
[see also: Commercial bank prime lending rate country ranks ]
$2.654 billion
(31 December 2017 est.)
$2.461 billion
(31 December 2016 est.)
country comparison to the world:
124
[see also: Stock of narrow money country ranks ]
$2.654 billion
(31 December 2017 est.)
$2.461 billion
(31 December 2016 est.)
country comparison to the world:
131
[see also: Stock of broad money country ranks ]
$8.805 billion
(31 December 2017 est.)
$9.09 billion
(31 December 2016 est.)
country comparison to the world:
113
[see also: Stock of domestic credit country ranks ]
$2.78 billion
(31 December 2012 est.)
country comparison to the world:
95
[see also: Market value of publicly traded shares country ranks ]
-$1.909 billion
(2017 est.)
-$868 million
(2016 est.)
country comparison to the world:
163
[see also: Current account balance country ranks ]
$550 million
(2017 est.)
$444.3 million
(2016 est.)
country comparison to the world:
175
[see also: Exports country ranks ]
US 63.9%, Namibia 19.3%
(2017)
Rock lobster, aragonite, crude salt, polystyrene products
$3.18 billion
(2017 est.)
$2.594 billion
(2016 est.)
country comparison to the world:
147
[see also: Imports country ranks ]
machinery and transport equipment, manufactures, chemicals, mineral fuels; food and live animals
US 83.2%
(2017)
$1.522 billion
(31 December 2017 est.)
$1.002 billion
(31 December 2016 est.)
country comparison to the world:
125
[see also: Reserves of foreign exchange and gold country ranks ]
$17.56 billion
(31 December 2013 est.)
$16.35 billion
(31 December 2012 est.)
country comparison to the world:
98
[see also: Debt - external country ranks ]
Bahamian dollars (BSD) per US dollar -
1
(2017 est.)
1
(2016 est.)
1
(2015 est.)
1
(2014 est.)
1
(2013 est.)
